GEOTHERMAL HEAT PUMP COST: PROS AND CONS OF SWITCHING TO GREEN POWER

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The price of a geothermal heat pump often seems high on the front end when compared to other types of heating and cooling systems. To some people, this immediately seems like a downside to making the switch to green energy, but that is not actually the case. The reason for the high upfront cost of switching to geothermal energy is the initial cost of installation. That major expense, however, is often recouped fairly quickly because of the reduced energy Wärmepumpe Altbau bills. Some homeowners report an eighty percent reduction in their utility bills after switching to geothermal energy. The geothermal heat pump cost is only one factor to consider for a homeowner who is deciding whether to make the transition to green energy. Here are some other factors to take into account:

How many adjustments will have to be made to the house itself?

There are wild variations in the costs associated with installing a geothermal heat pump. Depending on how many structural changes need to be made to the house itself, the cost could be anywhere from $7,000 to more than $20,000.

In some cases, it is more efficient to build with geothermal energy in mind. Trenches that must be dug and pipes that must be retrofitted into old constructions add to the upfront costs of converting an older home to green power. Because this is not always the case, it is important to get complete estimates that include any renovations that may be necessary to evaluate the total costs involved. Many existing homes are very easy to convert to green power.

How much of a reduction in energy costs will be seen immediately?

For some homeowners, an energy bill is drastically reduced after switching to geothermal energy. If the monthly savings, for example, approaches $500 per month, then the investment will pay itself off within the first three years of ownership. Most homeowners recoup their entire investment within the first ten years.

Geothermal systems last twice as long as conventional heating and cooling systems. Because they only need to be replaced every twenty years, the cost is actually quite comparable in the long run to cheaper systems that have to be replaced every ten or twelve years.

What tax credits are associated with transitioning to geothermal energy?

There are Energy Star tax credits to help offset the geothermal heat pump cost and installation expenses. Initially, there was a spending cap that limited the amounts that could be reimbursed for installation and labor costs, but the Economic Stimulus Act of 2009 removed those spending caps. Through December 31, 2 016, up to thirty percent of the total cost of both installation and labor can be deducted from taxes using the 5695 Tax Form, as long as the owner uses the property as a primary or secondary residence. Homes that are rented out to tenants do not qualify for this tax break.

How much of an impact will making the switch actually have on the environment?

Geothermal energy is one of the most environmentally sound ways to generate power for a residence. It reduces a home’s carbon footprint drastically, because naturally heated, renewable energy is being harnessed from inside the earth itself.

Having a home energy audit before installing Luft Wasser Wärmepumpe Altbau a geothermal system can help address any other issues that may contribute to excess power usage or energy loss. Adding new insulation to the home and considering the energy efficiency of doors and windows are often recommended. Homeowners who are interested in green power are wise to look beyond the initial upfront costs associated with transitioning to Eco-friendly energy, and consider the quick return on that investment in tax credits and lower utility bills.